Filing for Chapter 7 Bankruptcy in Royal Oak and Southeastern Michigan

Finding a Debt Relief Solution for Your Unique Situation

Though many people believe that filing for Chapter 7 bankruptcy is a much more difficult—if not impossible—option than other types of bankruptcy, this is, in fact, a myth. When Congress passed the new bankruptcy law in 2005, the public understood the changes to mean that Chapter 7 was no longer an option for most individuals. However, this couldn’t be farther from the truth. Chapter 7 bankruptcy is still a very viable option for many people and even provides an array of benefits that other options do not. At Gudeman & Associates, P.C., our skilled bankruptcy lawyers in Royal Oak and Southeastern Michigan have an in-depth knowledge of the law. We can help you determine if Chapter 7 bankruptcy is the right option for you.

The Benefits of Chapter 7 Bankruptcy

Once you have made the choice to file for bankruptcy, there are many reasons to choose Chapter 7 when weighing your various options. The main defining feature of this type of bankruptcy is that it offers debt relief without a repayment plan, as opposed to Chapter 13 bankruptcy, which requires repayment.

Other benefits of Chapter 7 include that it provides a way to:

Temporarily stop home foreclosure and auto repossession

Wipe out debt quickly with no repayment

Eliminate credit card debt and personal and payday loans

Handle medical bills and deficiencies on cars and utilities

Resolved old IRS debts/overpay of benefits

At Gudeman & Associates, P.C., our experienced bankruptcy attorneys in Royal Oak and Southeastern Michigan can help you assess your options and decide if filing for Chapter 7 can provide a solution to your debt problems. We will help you weigh all of your options and ensure that you are well informed before proceeding.